Energy Web joins EU-backed initiative to turbocharge energy efficiency in Europe

“INEEXS” project leverages digital technology to create new business models for utilities and energy service companies

Energy Web
Energy Web

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ZUG, Switzerland, 14 February 2023 — Energy Web has joined a new, EU-funded initiative to enhance the value of energy efficiency solutions across Europe. The initiative, “Innovative Energy Efficiency Service Models for Sector Integration via Blockchain’’ or INEEXS, is primarily focused on improving the business case for energy efficiency with the help of open source digital technologies. To do so, INEEXS will enable market participants to exchange granular building, asset, and organizational data in a secure, privacy-preserving way. Solutions under the initiative will be deployed in Germany, Spain, Greece and one additional EU member country to be selected during the deployment process.

Energy efficiency and demand flexibility solutions continue to follow a positive growth trajectory across Europe. However, a series of technical barriers and regulatory challenges prevent these solutions from being adopted at the scale needed to facilitate the European Union’s transition towards a clean energy economy. INEEXS is primarily focused on overcoming technical barriers to progress by enabling energy service companies, retailers, distribution system operators, financial institutions, and distributed energy resource aggregators to exchange trusted data from organizations and assets.

Over the next three years, the initiative will launch new technology and associated business models in support of this objective. As a first step, INEEXS will analyze five primary energy efficiency business cases, their legal requirements, cost structures, revenue streams, and benefits beyond cost savings in order to prioritize technology development activities under the initiative.

“We couldn’t be more excited to bring our open source technology stack to this initiative” said Jesse Morris, CEO of Energy Web. “Energy Web solutions are designed to support this exact use case — enabling multiple market participants, each with their own information technology systems to exchange and trust granular data — in this case data powering energy efficiency solutions across Europe.”

“Elaborating innovative and fitting business models by active market participants is pivotal if we are to address the existential challenge of transforming the energy system”. Explains Filippos Anagnostopoulos, Senior Associate at IEECP and Project Coordinator. “The INEEXS project offers a unique opportunity to energy retailers, energy communities, technology developers, energy agencies and real estate companies to validate, replicate, adopt and roll concrete technical solutions with potentially transformative impact.”

By adopting new digital technologies, methods, and tools to enable automated, accurate, fast and secure data exchange, INEEXS meets the key principles of the European Green Deal; More information can be found on the project webpage: https://ieecp.org/projects/ineexs/

Partners: IEECP — Institute For European Energy And Climate Policy (the Netherlands), HERON — Iron Thermoilektriki Anonymi Etaireia (Greece), NTUA — National Technical University of Athens (Greece), ESCAN (Spain), ENERCOOP- Cooperativa Electrica Benefica San Francisco De Asis Sociedad Cooperativa Valenciana (Spain), DOMX (Greece), VL — Verdia Legal (Spain), BEA — Berliner Energieagentur (Germany), OFFIS (Germany), Inlecom Group (Belgium), HIVEN (Finland), Energy Web Foundation (Switzerland).

Co-funded by the European Union under project ID101077033. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or CINEA. Neither the European Union nor the granting authority can be held responsible for them.

About Energy Web
Energy Web is a global non-profit accelerating the clean energy transition by developing open-source technology solutions for energy systems. Our enterprise-grade solutions improve coordination across complex energy markets, unlocking the full potential of clean, distributed energy resources for businesses, grid operators, and customers. Our solutions for enterprise asset management, data exchange, and Green Proofs, our tool for registering and tracking low-carbon products, are underpinned by the Energy Web Chain, the world’s first public blockchain tailored to the energy sector. The Energy Web ecosystem comprises leading utilities, renewable energy developers, grid operators, corporate energy buyers, automotive, IoT, telecommunications leaders, and more. More information on Energy Web can be found at www.energyweb.org or follow us on Twitter @EnergyWebX

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Energy Web
Energy Web

EW is a global, member-driven nonprofit accelerating a low-carbon electricity system through open-source, decentralized, digital technologies.